GeoWealth Management LLC Acquires 5,490 Shares of Iron Mountain Incorporated (NYSE:IRM)

GeoWealth Management LLC grew its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 25.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,229 shares of the financial services provider’s stock after acquiring an additional 5,490 shares during the quarter. GeoWealth Management LLC’s holdings in Iron Mountain were worth $2,862,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in IRM. Key Financial Inc increased its position in Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 251 shares in the last quarter. Halbert Hargrove Global Advisors LLC bought a new position in shares of Iron Mountain in the 4th quarter valued at $26,000. IMG Wealth Management Inc. bought a new stake in Iron Mountain during the 4th quarter worth $26,000. Whittier Trust Co. of Nevada Inc. increased its holdings in Iron Mountain by 46.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 155 shares in the last quarter. Finally, Parkworth Wealth Management Inc. bought a new position in Iron Mountain in the fourth quarter valued at about $53,000. Institutional investors own 80.13% of the company’s stock.

Insider Activity

In other news, CEO William L. Meaney sold 172,552 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $91.33, for a total value of $15,759,174.16. Following the completion of the sale, the chief executive officer now directly owns 237,402 shares in the company, valued at $21,681,924.66. This trade represents a 42.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mithu Bhargava sold 1,738 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $161,355.92. Following the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,211,933.36. This trade represents a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 318,973 shares of company stock worth $29,370,872 in the last quarter. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Stock Up 1.9 %

IRM stock opened at $84.21 on Friday. The firm has a market cap of $24.74 billion, a price-to-earnings ratio of 138.05, a PEG ratio of 5.15 and a beta of 0.97. The company’s fifty day simple moving average is $87.29 and its 200 day simple moving average is $104.44. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the firm earned $0.52 earnings per share. Research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Monday, March 17th were given a dividend of $0.785 per share. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.73%. Iron Mountain’s dividend payout ratio (DPR) is 514.75%.

Analysts Set New Price Targets

Several research firms have recently weighed in on IRM. Wells Fargo & Company reduced their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Friday. Barclays cut their price target on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. JPMorgan Chase & Co. decreased their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Finally, Truist Financial initiated coverage on Iron Mountain in a report on Tuesday, April 8th. They set a “buy” rating and a $95.00 target price on the stock. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $121.29.

Iron Mountain Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers’ work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.